FSX/Prepar3D – Scenery Silver Bay (KBFW), Minnesota (MN), USA. Silver Bay is a city in Lake County, Minnesota. The population was 1887 at the 2010 census. Outer Drive (County Road 5), Penn Boulevard, and Minnesota Highway 61 are three of the main routes in Silver Bay. According to the United States Census Bureau, the city has a total area of 8.36 square miles (21.65 km2), of which 7.89 square miles (20.44 km2) is land and 0.47 square miles (1.22 km2) is water. Silver Bay is located 28 miles northeast of the city of Two Harbors. By Fernando Angel G.